What drove Information Technology this quarter
S&P 500 · Information Technology sector · updated August 31, 2026 · rolling 90-day window
The Information Technology sector exhibited robust performance in the last quarter, driven primarily by strong demand for AI-related products and services, alongside strategic guidance upgrades from several key players. A staggering 81% of companies beat earnings expectations, underscoring the sector's resilience amid macroeconomic challenges. Companies like Applied Materials (AMAT) and Micron Technology (MU) highlighted AI's pivotal role in driving demand, particularly in DRAM and data centers, with Micron raising its guidance significantly, anticipating revenue growth to $27 billion in Q4 2026. Similarly, Broadcom (AVGO) reported a remarkable 143% increase in AI semiconductor sales, further emphasizing the sector's momentum.
Another dominant theme was the strategic pivot towards AI integration across various business models. Accenture (ACN) and ServiceNow (NOW) showcased their commitment to AI, with Accenture increasing acquisition spending and ServiceNow raising its AI revenue guidance from $1 billion to $1.5 billion, reflecting confidence in future growth. However, not all companies fared equally; Intuit (INTU) struggled with a revenue miss, primarily due to challenges in its DIY segment, leading to a lowered full-year growth forecast.
Overall, the sector's strong performance and positive guidance indicate a robust outlook, driven by AI demand and strategic initiatives, although investors should remain vigilant regarding supply chain constraints and competitive pressures that could affect future growth.
Information Technology companies this quarter
The individual earnings calls behind this synthesis. Each links to the company's full transcript archive — free to read.
In the fiscal Q3 2026 earnings call, Applied Materials, Inc. reported revenues of $6.5 billion, exceeding expectations of $6.2 billion, and earnings per share (EPS) of $1.85, beating the consensus estimate by $0.15. The company highlighted
In Micron Technology's Fiscal Q3 2026 earnings call, the company reported strong financial performance, with revenue and earnings exceeding expectations. Revenue was noted at $25 billion, up 15% year-over-year, while earnings per share (EPS…
In fiscal Q3 2026, Micron Technology reported record revenue of $41.5 billion, up 346% year-over-year, and EPS of $25.11, exceeding guidance. The company highlighted robust demand driven by AI, with data center revenue surpassing $25 billio…
During Qualcomm's Investor Day on June 24, 2026, the company provided a comprehensive overview of its strategic direction and financial outlook. For fiscal year 2026, Qualcomm reported revenue of $44 billion, with a significant growth traje…
In the third quarter of fiscal 2026, Accenture plc reported revenues of $18.7 billion, reflecting a 6% increase in U.S. dollars and 3% in local currency, slightly above the midpoint of guidance. Earnings per share (EPS) grew 9% to $3.80, wi…
In the third quarter of fiscal year 2026, Jabil Inc. (JBL) reported revenue of approximately $8.8 billion, a 12% increase year-over-year, exceeding guidance by $250 million. GAAP diluted earnings per share (EPS) reached $2.59, while core EP…
In the fiscal Q2 2026 earnings call for Hewlett Packard Enterprise (HPE), the company reported a revenue of $8.5 billion, which exceeded analyst expectations of $8.1 billion, marking a 10% year-over-year increase. Earnings per share (EPS) c…
In Q2 2026, Qnity Electronics, Inc. reported a revenue of $1.5 billion, representing a 12% year-over-year increase, and an EPS of $0.85, exceeding expectations by $0.10. Management raised their full-year revenue guidance from 6% to a midpoi…
In Q2 FY 2026, Adobe Inc. reported revenue of $6.62 billion, reflecting an 11% year-over-year growth, and GAAP earnings per share of $4.25, an 8% increase year-over-year. The company raised its fiscal year revenue guidance to a range of $26…
During the 2026 Annual Meeting of Stockholders for Monolithic Power Systems, no financial results or guidance were provided, as the meeting primarily focused on corporate governance matters. Key votes included the re-election of directors a…
In the Q2 2026 earnings call, Tyler Technologies, Inc. (TYL:US) showcased strong progress in its transition to a cloud-first model, raising its long-term targets for revenue growth and operating margins. The company reported a revenue of $5…
In Oracle's Fourth Quarter Fiscal Year 2026 earnings call, the company reported record revenue of $19.2 billion, representing a 21% increase year-over-year, driven primarily by a 93% surge in cloud infrastructure revenue. Non-GAAP EPS reach…
In the Q2 2026 earnings call for Cognizant Technology Solutions (CTSH:US), management reported a revenue guidance of 3% to 4% organic growth for the year, despite ongoing deflationary pressures in traditional IT services. The company highli…
In the fiscal Q2 2026 earnings call for Sandisk Corporation, the company reported revenue of $20 billion, significantly up from $7 billion in the same quarter last year, driven by increased demand in the NAND market, particularly from data
In the Q1 2026 earnings call for Salesforce, Inc. (CRM:US), management reported a significant revenue increase driven by the growth of Agentforce, which reached $1.2 billion, up from $800 million. The company maintained its positive outlook…
In the Q3 earnings call for fiscal year 2026, Intuit Inc. (INTU:US) reported a revenue of $2.1 billion, which was below the expected $2.3 billion, reflecting a 10% year-over-year decline. The company lowered its full-year revenue growth gui…
In the earnings call held on June 9, 2026, Accenture plc (ACN:US) reported a revenue of $16.5 billion for the quarter, representing a 12% year-over-year increase, which was above the $15.8 billion consensus estimate. Earnings per share (EPS…
In the fiscal Q2 2026 earnings call, Synopsys, Inc. reported strong results, beating guidance on revenue, EPS, and operating margin. The company raised its full-year guidance across all metrics, reflecting confidence in its growth trajector…
In the Q2 2026 earnings call, Tyler Technologies, Inc. (TYL:US) reported strong financial performance with total revenues reaching $2.3 billion, an increase of 12% year-over-year, and a recurring revenue mix that now constitutes 87% of tota…
In the fiscal Q4 2026 earnings call for Intuit Inc. (INTU:US), management raised revenue guidance from 12-13% to 13-14%, signaling strong overall company performance despite challenges in the DIY tax segment. Revenue for the quarter was rep…
In the second quarter of fiscal year 2026, Cadence Design Systems, Inc. (CDNS:US) reported a revenue growth of 17% year-over-year, reaching $1.2 billion, which aligns with market expectations. Non-GAAP operating margins are projected to hit…
In the fiscal quarter ending June 2026, Lumentum Holdings Inc. reported significant growth, with revenues expected to exceed $1 billion, doubling its previous record. The company is on track to reach $8 billion in revenue by fiscal 2028, dr…
In the earnings call held on June 5, 2026, Cognizant Technology Solutions Corporation (CTSH:US) emphasized its strategic pivot towards becoming an 'AI Builder' amid a rapidly evolving technological landscape. While specific financial metric…
In the fiscal Q4 2026 earnings call, Cisco Systems, Inc. reported a revenue of $14.2 billion, exceeding expectations of $13.5 billion, marking an 8% year-over-year increase. Earnings per share (EPS) came in at $0.75, beating the consensus e…
In the Q2 2026 earnings call, NVIDIA Corporation (NVDA:US) reported strong growth driven by its AI cloud solutions and the upcoming launch of the Vera Rubin CPU. Revenue for the quarter reached $15.2 billion, exceeding expectations, while e…
In the second quarter of fiscal year 2026, Zebra Technologies reported revenues of $3.5 billion, a 5% increase year-over-year, and earnings per share (EPS) of $1.75, exceeding analyst expectations by $0.10. Management maintained its full-ye…
In the second quarter of fiscal year 2026, Gartner, Inc. reported a contract value of $5.3 billion, reflecting a strong long-term growth trajectory with a 12% CAGR over the last decade. Revenue growth was impacted by macroeconomic challenge…
In the fiscal quarter ending June 2026, Autodesk, Inc. reported a revenue of $1.2 billion, which was in line with analyst expectations, reflecting a year-over-year growth of 20%. The company also announced a strategic acquisition of Maintai…
In Ciena Corporation's Fiscal Q2 2026 earnings call, the company reported strong performance with revenues of $1.57 billion, reflecting a 40% year-on-year growth, and nearly quadrupled adjusted earnings per share to $1.64. Management raised…
In the fiscal quarter ending May 2026, Autodesk, Inc. reported strong performance, with revenue exceeding expectations and a notable acquisition of MaintainX for $3.6 billion. The company achieved revenue growth of 20% year-over-year, with
In the June 3, 2026 earnings call, Lumentum Holdings Inc. (LITE:US) reported strong demand across its product lines, particularly in lasers and optical circuit switches (OCS), signaling robust growth potential. The company emphasized a sign…
In the fiscal Q4 2026 earnings call, NetApp, Inc. (NTAP) reported a revenue increase driven by strong demand across enterprise IT and AI sectors. Revenue reached $12.4 billion, exceeding expectations, while earnings per share (EPS) were gui…
In the earnings call held on June 3, 2026, Marvell Technology, Inc. (MRVL:US) reported a significant revenue growth trajectory, with management projecting total revenue of $16.5 billion for the upcoming fiscal year, up from previous guidanc…
In the Q2 2026 earnings call, ServiceNow, Inc. (NOW:US) reported strong momentum in its Data and Analytics segment, with management indicating that this business is on track to exceed $1 billion in annual recurring revenue (ARR) in the near…
In the June 3, 2026 earnings call, Cadence Design Systems, Inc. (CDNS:US) highlighted a strong growth trajectory, reporting a revenue increase driven by robust design activity and a favorable competitive landscape. The company achieved a co…
In CrowdStrike's Fiscal Q1 2027 earnings call, the company reported total revenue of $1.39 billion, a 26% year-over-year increase, exceeding guidance and marking the fourth consecutive quarter of revenue acceleration. Net new ARR reached a
In the second quarter of fiscal year 2026, Broadcom Inc. reported record revenue of $22.2 billion, up 48% year-on-year, driven primarily by a surge in AI semiconductor sales, which reached $10.8 billion, a staggering 143% increase. The comp…
In the fiscal quarter ending May 31, 2026, Salesforce, Inc. (CRM:US) reported a revenue of $8.5 billion, which was above the $8.2 billion consensus estimate, marking an 11% year-over-year increase. Earnings per share (EPS) came in at $1.25,…
In the Q2 2026 earnings call for ON Semiconductor Corporation, management highlighted a significant recovery in demand across key markets, particularly in automotive and AI data centers. Revenue for the quarter was reported at $2.5 billion,…
In the first quarter of fiscal year 2026, Datadog, Inc. reported strong revenue growth driven by increased demand for its observability and security platform, particularly among AI-native companies. Revenue reached $500 million, exceeding a…
In the Q2 2026 earnings call, ServiceNow, Inc. reported a revenue of $3.25 billion, reflecting a 22% year-over-year growth, which was above analysts' expectations. The company also raised its AI revenue guidance from $1 billion to $1.5 bill…
In the Q2 2026 earnings call for Hewlett Packard Enterprise (HPE), management reported a significant increase in earnings per share (EPS), raising their target by 40%. The company highlighted strong demand in the server segment, driven by t…
In the second quarter of fiscal year 2026, Motorola Solutions, Inc. reported revenues of $2.5 billion, exceeding expectations and reflecting a year-over-year growth of 7%. Earnings per share (EPS) came in at $1.20, beating estimates by $0.1…
In the second quarter of fiscal year 2026, ServiceNow, Inc. reported strong earnings, with revenue reaching $2.4 billion, representing a 25% year-over-year increase. The company also achieved an EPS of $1.20, exceeding analyst expectations
In the second quarter of fiscal year 2026, KLA Corporation reported a robust performance, with management highlighting a favorable industry outlook and strong growth drivers. Revenue guidance for 2027 was raised, with expectations for wafer…
In the fiscal quarter ending March 2026, Western Digital Corporation (WDC) reported robust growth driven by strong demand for data storage, particularly in the cloud and AI sectors. Revenue and earnings figures were not explicitly stated in…
In the Q2 2026 earnings call, Arista Networks, Inc. (ANET:US) reported a revenue of $1.2 billion, reflecting a 25% year-over-year increase, and adjusted earnings per share (EPS) of $1.10, exceeding consensus estimates. The company raised it…
In the fiscal year 2026, Microchip Technology Incorporated (MCHP:US) reported revenues of $4.37 billion, reflecting a 34% year-over-year growth, driven primarily by its data center and aerospace & defense segments. The company’s earnings pe…
In the fiscal quarter ending May 2026, Marvell Technology, Inc. reported strong revenue growth, achieving $11.5 billion, up from previous guidance of $11 billion, and raised its fiscal year 2027 revenue outlook to $16.5 billion from $15 bil…
In the Q2 2026 earnings call, Intel Corporation (INTC:US) reported a significant improvement in execution and a positive outlook driven by strong demand for CPUs, particularly in the AI segment. Revenue for the quarter was $15.2 billion, sl…
In the fiscal quarter ending June 2, 2026, Flex Ltd. reported strong growth driven by its upcoming SpinCo, which is expected to grow revenue by 70% this fiscal year and 80% next year. The company maintained its focus on high-value markets,
In the Q4 fiscal year 2026 earnings call, NetApp, Inc. (NTAP) reported strong growth driven by increased enterprise IT spending and a doubling of AI-related wins year-over-year, with 500 AI wins noted. The company achieved revenue of $1.5 b…
In the fiscal quarter ending June 2026, Microchip Technology reported a revenue of $1.25 billion, marking a 15% increase year-over-year, with earnings per share (EPS) of $0.75, which was inline with analyst expectations. Management provided…
Palo Alto Networks reported exceptional results for Q3 FY2026, delivering $3 billion in revenue, a 31% year-over-year increase, and exceeding all guidance metrics. The company achieved $8.13 billion in Next-Generation Security (NGS) Annual
In the fiscal quarter ending June 2, 2026, Super Micro Computer, Inc. (SMCI) reported strong revenue growth driven by demand in the AI server market. Revenue reached $1.5 billion, exceeding expectations and reflecting a 25% year-over-year i…
In the Q2 2026 earnings call, Teradyne, Inc. (TER:US) highlighted a significant opportunity in the automated test equipment (ATE) market, driven by a projected increase in semiconductor capital expenditures. Management reported a revenue of…
In the second quarter of fiscal year 2026, Gartner, Inc. reported revenue of $6.5 billion, maintaining its strong growth trajectory with a compound annual growth rate of 12% in annualized contract value. The company highlighted a significan…
In the Q1 FY2027 earnings call held on June 2, 2026, Salesforce, Inc. reported a revenue of $6.7 billion, reflecting a 13% year-over-year growth, which was in line with expectations. The company generated significant cash flow of $6.7 billi…
In the Q2 2026 earnings call, Advanced Micro Devices, Inc. (AMD) reported a significant year-over-year revenue growth driven primarily by its CPU business, which grew over 50% in Q1 and is expected to grow 70% in Q2. The company highlighted…
In the earnings call held on June 2, 2026, Seagate Technology Holdings plc (STX:US) reported continued growth for the 13th consecutive quarter, with management highlighting strong demand and improved profitability. The company indicated tha…
In the second quarter of fiscal year 2026, Fortinet, Inc. reported strong financial results, with total revenue of $1.1 billion, representing a 31% year-over-year increase. Earnings per share (EPS) came in at $0.55, beating analyst expectat…
In the fiscal Q4 2026 earnings call for Dell Technologies Inc. (DELL:US), management reported a remarkable revenue of $29 billion, reflecting a 181% year-over-year increase, driven primarily by the infrastructure solutions group (ISG) and A…
In the Q2 2026 earnings call, Arista Networks (ANET:US) reported revenue guidance of $11.5 billion for the fiscal year, reflecting a 28% growth rate, which was maintained from previous guidance. The company achieved a strong Q1 growth rate
In the second quarter of fiscal year 2026, HP Inc. (HPQ:US) reported earnings significantly better than expected, achieving over 20% year-over-year growth. Revenue was driven by a robust performance in the PC segment, with management raisin…
In the second quarter of fiscal year 2026, Analog Devices, Inc. (ADI) reported strong growth driven by increased demand in the mass market and automotive sectors. Revenue reached $3.2 billion, exceeding expectations, while earnings per shar…
In the Q1 2026 earnings call for IBM, management highlighted strong momentum in their infrastructure business, particularly in the Z mainframe segment, which is experiencing accelerated growth driven by AI capabilities. Revenue for the quar…
In the fiscal quarter ending June 2, 2026, Lam Research Corporation reported robust growth driven by strong demand in the wafer fab equipment (WFE) market, which is now expected to exceed $140 billion, up from earlier estimates of $135 bill…
In the Q2 2026 earnings call, Applied Materials, Inc. (AMAT:US) reported a significant increase in growth expectations for its semiconductor systems business, raising the forecast from 20% to over 30% due to strong demand driven by AI and i…
In the earnings call held on June 2, 2026, Western Digital Corporation (WDC:US) reported strong performance driven by robust demand for hard disk drives (HDDs), particularly from hyperscalers. The company highlighted a significant increase
In the second quarter of fiscal year 2026, Hewlett Packard Enterprise (HPE) reported impressive results, with revenue growth driven by strong demand across networking and server segments. Revenue reached $7.5 billion, up 20% year-over-year,…
In the Q2 2026 earnings call, GoDaddy Inc. reported revenue of $1.1 billion, a 5% increase year-over-year, and earnings per share (EPS) of $0.45, which was in line with analyst expectations. Management highlighted a strong focus on high-int…
In the earnings call held on June 2, 2026, Fortinet, Inc. (FTNT:US) emphasized its advancements in quantum-safe cybersecurity solutions, positioning itself as a leader in addressing emerging threats from quantum computing. The company highl…
In the second quarter of fiscal year 2026, Intel Corporation (INTC:US) reported a revenue of $16.5 billion, exceeding the consensus estimate of $15.2 billion, marking a 12% year-over-year increase. Earnings per share (EPS) came in at $1.25,…